Swiss National Bank Acquires 2,500 Shares of nCino, Inc. (NASDAQ:NCNO)

Swiss National Bank raised its holdings in shares of nCino, Inc. (NASDAQ:NCNO – Get Rating) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,100 shares of the company’s stock after purchasing an additional 2,500 shares during the quarter. Swiss National Bank owned 0.12% of nCino worth $3,519,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of nCino by 32.9% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,774,524 shares of the company’s stock worth $196,969,000 after acquiring an additional 1,430,585 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of nCino by 19.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,996,554 shares of the company’s stock worth $238,653,000 after buying an additional 1,143,370 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of nCino by 29.4% in the 3rd quarter. BlackRock Inc. now owns 3,095,956 shares of the company’s stock worth $105,602,000 after buying an additional 704,230 shares during the last quarter. Wasatch Advisors Inc. boosted its holdings in shares of nCino by 30.9% in the 1st quarter. Wasatch Advisors Inc. now owns 1,190,126 shares of the company’s stock worth $48,771,000 after buying an additional 280,692 shares during the last quarter. Finally, Eaton Vance Management boosted its holdings in shares of nCino by 33.6% in the 1st quarter. Eaton Vance Management now owns 845,615 shares of the company’s stock worth $34,654,000 after buying an additional 212,594 shares during the last quarter. Institutional investors own 88.69% of the company’s stock.

Analyst Ratings Changes

NCNO has been the topic of a number of research analyst reports. Barclays cut their price target on shares of nCino from $35.00 to $26.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 29th. Truist Financial cut their price target on shares of nCino from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, March 29th. Piper Sandler reissued a “neutral” rating and issued a $22.00 price target on shares of nCino in a report on Wednesday, March 29th. Morgan Stanley downgraded shares of nCino from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $27.00 to $25.00 in a report on Tuesday, April 4th. Finally, Stephens dropped their price objective on shares of nCino from $33.00 to $27.00 and set an “overweight” rating on the stock in a report on Wednesday, March 29th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $32.67.

Insider Activity at nCino

In related news, insider Joshua L. Glover sold 72,851 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $23.94, for a total value of $1,744,052.94. Following the sale, the insider now directly owns 320,373 shares of the company’s stock, valued at $7,669,729.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other nCino news, insider Joshua L. Glover sold 2,386 shares of nCino stock in a transaction that occurred on Thursday, April 6th. The shares were sold at an average price of $24.11, for a total transaction of $57,526.46. Following the transaction, the insider now directly owns 317,987 shares of the company’s stock, valued at $7,666,666.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joshua L. Glover sold 72,851 shares of nCino stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $23.94, for a total transaction of $1,744,052.94. Following the transaction, the insider now directly owns 320,373 shares in the company, valued at $7,669,729.62. The disclosure for this sale can be found here. Insiders have sold 88,705 shares of company stock valued at $2,126,087 over the last three months. 38.20% of the stock is owned by corporate insiders.

nCino Stock Down 0.6 %

Shares of NCNO opened at $25.53 on Monday. The business’s 50-day moving average price is $23.61 and its 200-day moving average price is $25.76. nCino, Inc. has a twelve month low of $19.58 and a twelve month high of $39.83. The stock has a market cap of $2.86 billion, a PE ratio of -27.45 and a beta of 0.34.

nCino (NASDAQ:NCNO – Get Rating) last announced its earnings results on Tuesday, March 28th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.09. The company had revenue of $109.18 million during the quarter, compared to analysts’ expectations of $104.47 million. Analysts expect that nCino, Inc. will post -0.06 earnings per share for the current fiscal year.

nCino Profile

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nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System, a tenant cloud platform, which digitizes, automates, and streamlines complex processes and workflow; and utilizes data analytics and artificial intelligence and machine learning (AI/ML) to enable banks and credit unions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance.